Digital Currency (DC): Basics And Tax Implications. DC is essentially electronic money. It’s not available as bills or coins. Cryptocurrency is a type of DC created using computer algorithms with the most popular being bitcoin. Read more at: http://mycpas.biz/news/

There are special laws which hold a director personally liable for certain amounts that their corporation fails to deduct, withhold, remit, or pay. Most commonly, federal sales tax (GST/HST) and payroll withholdings (income tax, EI and CPP), but usually not normal corporate income tax liabilities. In a June 22, 2017 Tax Court of Canada case, at issue was whether the director of a corporation could be held liable for $66,865… http://mycpas.biz/news/